Legal Question in Wills and Trusts in California

irrevocable trust

I am having trouble with tenants and there may be law suit involved. Can I protect my asset by doing irrevocable trust

to family members?


Asked on 3/31/06, 2:20 pm

1 Answer from Attorneys
Ken Koenen Koenen & Tokunaga, P.C.

Re: irrevocable trust

No. You and anyone who helped you would be violating the Fraudulent Transfer Act, which says that any transfer without adequate consideration when you know of a potential lawsuit or claim against you is fraudulent.

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Answered on 3/31/06, 2:28 pm


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